‎Avalanche (AVAX) Resumes Downtrend as Retracement Fails Below Key Resistance

‎AVAXUSD Market Analysis- May 30

‎Avalanche (AVAX) has resumed its downward trajectory after failing to hold above key resistance, signaling the end of its corrective rally and a continuation of the broader bearish trend.

‎AVAXUSD Key Levels

‎Support Levels: 18.50, $15.40
‎Resistance Levels: $22.00, $27.00

‎AVAXUSD Long-Term Trend: Bearish

‎As February 2025 unfolds, Avalanche (AVAXUSD) has resumed its broader bearish trend, slipping back below the critical $27.00 resistance level. This zone marked the recent high of the prior corrective rally and has since proven to be a firm rejection point, reinforcing the prevailing downtrend.
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‎Following a descent to the $15.40 demand zone, the market staged a significant bullish retracement, forming a rising channel that pushed through the intermediate $22.00 supply level. However, the momentum faded near the $27.00 resistance, where the bullish channel was ultimately breached, signaling the end of the correction and a renewed push downward.
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‎The daily Relative Strength Index (RSI) now shows weakening momentum, supporting the bearish outlook. Furthermore, the daily Moving Average confirms the trend direction, as price continues to trade below the indicator. Unless a decisive move above the $15.40 demand level occurs, the bearish structure is expected to persist.

‎AVAXUSD Medium-Term Trend: Bearish

‎On the 4-hour timeframe, the market structure has clearly shifted bearish, marked by a confirmed break of structure. AVAXUSD is trading below the 4-hour Moving Average, further validating the renewed downtrend.
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‎While the 4-hour RSI approaches the oversold territory, any upcoming bullish reaction is likely to be a minor retracement within the broader bearish move. With the $22.00 level recently lost again, this breakdown opens the door for further downside movement.

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